All right, you guys, you are going to love this. LiveGood CEO Ben Glinsky interview. In this Q & A Meet The Ceo sitdown he answers all the questions that you've been dying to hear. So enjoy the video.
Ryan: How is it possible that we can have such high quality products at such affordable prices? From a business I mean.
Look at other network marketing companies. In order to have a compensation plan that pays out what these companies are paying out ... 50 60%, in a lot of companies, you know, you make a product for 10 bucks, and you're selling it for 60, you pay out half of that, you're at 30 bucks, minus 10, the company's got to have a little bit of profit in there.
And a lot of these companies have a lot of overhead. They've got a lot of corporate employees and a big corporate office and the company needs to make money.
So the way we do it is a little bit different. Instead, we kind of, it's almost like we're pooling our money together to buy these products in bulk, the highest quality. I mean, Ryan formulates I mean he does not skimp on ingredients, on quality, on manufacturing, really on anything, so that we can create these amazing products and sell them for lower prices and everyone else.
And still, we have enough of a profit margin in there to keep the company healthy. And to allow you guys to get the products that you need and to save people money.
And then on the membership side, you know, there's a little bit of profit in there as well to run the company. And so again, we run on very thin margins. I mean, right now, we've got about 600,000 users, as of about eight months in since we've launched this power line and compensation plan.
And we're ordering a ton of inventory. We work on low profit margins. A lot of companies, they brag about having 100 corporate employees. We have what like six customer service people and like eight warehouse packers. I mean, that's our staff, our entire operating cost is under $100,000 a month, which is very low compared to most companies out there.
Okay, thank you. Next up.This one I hear too. And I think all of us have people on the fringe that are saying these types of things. I'm very curious to see and hear how you answer this question. So people are saying LiveGood will not last. How can we be sure LiveGood will be here long term?
That's an interesting question. I don't know where the concern might come from there. Because we first of all, we do everything right, everything clean. 100%, legal, 100%. Fair.
And our products are absolutely amazing. I guess maybe the question comes from seeing a lot of other companies go from nothing, to really big, to gone in a few years. And I think part of the reason for that is they're all led by the opportunity ... by the money. And that's not to say that LiveGood isn't, and I'll get to that in a second.
But I think the thing that's going to make LiveGood long term compared to all these other companies is the products. We're probably selling more, we are selling more products than most companies in the network marketing industry were you have to buy a product to get paid in that company. We're selling more products than almost all of those companies, and there are no requirements to buy product.
No one has to purchase products in LiveGood. That's what's gonna make this a long term opportunity.
The nutritional supplement industry, I don't know the exact number, but it's a multi multi billion dollar industry. We have the highest quality products on the planet at the lowest prices anywhere. It just makes sense. People want products ... they want value. And again, that word I'm sure it's going to come up a few more times in this call, they want value. And that's exactly what we're offering. So that's what's going to continue driving this company long term.
Yes, I think a lot of people who maybe don't get enough spillover and who aren't seeing hundreds of dollars a month, I think we're going to get people dropping out if they're making 12 bucks a month, even though it's covering their membership, if they're not buying the products.
For the people who are buying the products, they are gonna stay on this company for years and years and years. Even if they go to another opportunity, another company where they're making money, there's not going to be a better place to get higher quality products at a better price than LiveGood. So I see a lot of people might leave the opportunity side, but continue to be a customer of LiveGood for years and years to come.
And I think that's really the backbone. And again, every product that we continue to add just creates more value for that 9.95 A month membership that people aren't going to stop.
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